PATH - 3 AI Stocks That Have More Upside Than Nvidia According to Wall Street
2024-05-05 13:07:00 ET
Nvidia has undoubtedly been the hottest artificial intelligence (AI) stock to own over the past year and a half. Since the start of 2023, shares of the chipmaker have soared an incredible 500%. Many stocks don't generate those types of returns over a decade or even longer, and Nvidia has managed to do that in just 16 months. Given those types of gains, it's not unreasonable to expect that many Wall Street analysts believe it may be approaching a peak. The consensus analyst price target suggests that Nvidia's stock may only rise another 13% from where it is today.
AI investors may want to consider other options, which may have more room to rise higher. Three stocks that analysts are much more bullish about include SoundHound AI (NASDAQ: SOUN) , Baidu (NASDAQ: BIDU) , and UiPath (NYSE: PATH) . Here's a look at how much upside these stocks may have and whether they are worth adding to your portfolio today.
The analyst consensus price target for SoundHound AI is a little less than $7, which would mean that SoundHound's stock could rise by around 50% if you believe it could hit that value within the next year or so.
For further details see:
3 AI Stocks That Have More Upside Than Nvidia, According to Wall Street